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Description
Reasons why you should create a financial model for your startup or small business. A good financial model can help you:
- Test your assumptions and verify key drivers of your business
- Compare and contrast different business choices, like pricing models
- Calculate the ACTUAL amount of capital you need to startup
- Calculate your burn rate
- Model out your user growth
- Model out your expenses
- Be more prepared talking to potential investors
- And loads more.
Building a financial model isn't just a vanity exercise. When done right, it could help you better understand your business, whether it's a startup or an existing business you're growing.
But it's not easy and there is a right way and a wrong way to go about it.
Even if you have little to no finance background, if you're going to be starting or running a business, this is a skill you need to have.
But financial modeling requires the right tools and the right approach.
We're going to show you how to do that with a wide variety of examples and exercises. But we'll also be teaching general best practices that will help you, no matter what you'll be building your financial models for in the future.
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